In a changing environment and every day with greater demands from countries in everything related to the offshore world, personal offshore bank accounts can work better to execute financial activities.

Although in other years it was favorable to own corporate offshore bank accounts, and they were seen as the most suitable tools to grow your assets, since the funds stored in the bank account of an offshore company are legally separated from those of the owner or owner of that company, so the account functioned as a layer of asset protection, but that perception changed.

As a result of the agreements for the automatic exchange of banking information, this old tax and asset protection strategy is not easy to realize, since the tax authorities of the country of residence of the final beneficiary now have access to control over the person's capital movements.

In addition, all transactions that are made with the corporate bank account are in the name of the offshore company and not the final beneficiary of the account.

Remember that offshore bank accounts are not intended for large fortunes or large estates. Individuals and average companies can opt for this tool since an offshore bank account offers protection against political and economic changes in their country.

If political changes occur in a given region, the financial risk increases and Consequently the assets of the person in local banks may be harmed.

In these cases, the resources located in offshore accounts, apart from maintaining the assets, may generate more income, from the collection of interest. Another significant benefit of offshore bank accounts is tax savings.

IT IS LEGAL TO OPEN AN OFFSHORE ACCOUNT

Offshore bank accounts are covered by total legality, the illegal thing would be not to pay the taxes that are generated by having them, and the offshore jurisdictions that offer the advantages to foreign investors to locate their companies and offshore accounts, have the ideal scenarios with regulatory frameworks in accordance with international treaties on tax, banking and money laundering.

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